Tag: AI

10 Most Difficult-to-Fill IT Roles — And How to Address the Gap | In the News

As companies proceed with digital transformation efforts, their focus is firmly on enabling business outcomes with data, increasing demand for data science, analytics, AI, and even RPA skills.

“With the entry of ChatGPT and other generative AI, we expect the demand for data science, AI, and machine learning to further surge in the coming time,” says Aamir Khan, Senior Analyst at Everest Group.

Read more in CIO.

Welcoming the AI Summer: How Generative AI is Transforming Experiences | Webinar

On-demand Webinar

Welcoming the AI summer: How Generative AI is Transforming Experiences

Generative AI (GAI) technology has been around for nearly half a century. But recent developments in the maturity of AI models, faster computation power of systems, and availability of high-quality training data are redefining the technology in 2023.

While tech giants like Microsoft, Google, and Meta fight to dominate the GAI landscape, leading experience providers like Adobe, Salesforce, and Oracle are entering the market with significant investments.

In this on-demand webinar, Everest Group’s experts will highlight the use cases and potential of GAI technology in crafting experiences, its limitations and risks in terms of full-fledged commercial adoption, and the industry’s predicted response.

Our speakers discuss:

  • How can enterprises leverage GAI to unlock business value, and what are the current use cases?
  • What is the role of GAI in experience design?
  • What challenges in the experience ecosystem is GAI helping to address?
  • What is the future potential of GAI technology?
  • How can service providers and enterprises leverage GAI for enhanced efficiency and productivity?

Who should attend?

  • CMOs
  • CIOs
  • CTOs
  • Heads of customer experience
  • Heads of marketing
Krishan Nisha gray square 1
Practice Director
Mittal Nitish
Partner
Sharma Sharang Refresh gray square
Vice President

An Effective AI Strategy Demands a Sound Data Strategy | In the News

A data strategy outlines how an organization will manage and leverage its data assets to achieve its business objectives. It involves defining the data architecture, governance, management, and analytics practices used to ensure that data is accurate, accessible, and secure.

“I can’t stress this enough: data or the lack of the right data strategy is the number one bottleneck to scaling or doing anything with AI,” said Nitish Mittal, Partner at Everest Group. “When clients come to us with what they think is an AI problem, it is almost always a data problem. AI depends on viable data to prosper. That’s why it’s important to think about the data first.”

Read more in TechCentral.

HIMSS23 Highlights: Focus on Integration, Generative AI, and Increased Emphasis on Risk Mitigation | Blog

Artificial Intelligence (AI), technology integration, and consumerization are among the key trends driving the future of healthcare, a glimpse into the horizon at HIMSS23 showed. Read on to learn takeaways from Everest Group analysts who attended the recent global healthcare conference.

More than 35,000 healthcare leaders converged in Chicago last week to share ideas, highlight investments, showcase demos, and shape the future at HIMSS23. Technology integration, value realization, and risk avoidance dominated conversations at this year’s more strategic and connected conference focused on finding solutions to urgent issues.

Here are the three main themes we saw at HIMSS23:

  • Integration is the key to realizing value

Integration was a major topic, as many organizations struggle to stitch together various composable platforms. While microservices have enabled precision and faster outcomes for specific use cases, these independent solutions often do not communicate with each other, which can hinder value realization. Many stakeholders we interacted with highlighted the desire to explore ways to better integrate these platforms.

  • Generative AI is attracting attention

Generative AI, like ChatGPT, and its potential applications is creating a lot of excitement. Major technology companies such as Microsoft and Google are leading the way in developing innovative uses for AI in healthcare, including creating new health applications. While some early examples of AI in healthcare show promise, such as voice dictation that help doctors document patient information more efficiently, how AI will address broader healthcare challenges such as staffing shortages, physician burnout, and rising costs remain to be seen.

  • Consumerization of healthcare will continue to grow

Putting the patient at the center of healthcare was another recurring theme, with a focus on designing healthcare systems and technologies that are intuitive and seamless for users. The increased emphasis on user experience has been influenced by the consumer world, where these types of technologies are the norm. The coming years are likely to bring a greater focus on patient portals, wearable health solutions, and virtual care delivery technologies to improve patient/member experience.

How was HIMSS different this year?

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The annual HIMSS conference returned to Chicago, with attendees noting a greater sense of urgency and action in meetings versus prior events in Orlando and Las Vegas. A large number of healthcare information and technology companies attending were focused on emerging enterprise priorities around value-based care (VBC) and interoperability.

Leaders engaged in meatier discussions focused on integration, value realization, and risk avoidance. The conversations showed that healthcare enterprises are looking for solutions to get more out of their technology, budgets, and resources in today’s challenging environment.

The large post-pandemic turnout demonstrated the appetite for in-person interaction. Event organizers focused on creating more focused opportunities for attendees to gather and have relaxed and candid conversations with friends, colleagues, and clients, which have been difficult to replicate virtually.

Overall, interacting with industry leaders influencing the next stage in healthcare technology at HIMSS23 was an illuminating experience for Everest Group analysts Abhishek Singh and Manu Aggarwal, who are available to share their insights.

Continue reading about the healthcare industry and the trends influencing decision-making by healthcare payers in our blog, The Recessionary Conundrum: What Lies Ahead for Healthcare Payers?

Impact of ChatGPT and Similar Generative AI Solutions on the Talent Market | Blog

ChatGPT’s arrival has brought much hype and speculation that it could replace several human workforce areas. While ChatGPT shows great early potential, how will it impact the “future of work” and the overall talent landscape? Read the latest blog in our series to learn more about the impact of ChatGPT and other generative Artificial Intelligence (AI) solutions on the workforce.

Since its advent, ChatGPT has taken the internet by storm, reaching a million users in under a week. No wonder it is the most talked about subject in technology and innovation. While ChatGPT has generated a lot of curiosity among netizens, the big techs are not far from the spotlight.

Microsoft has already invested billions in the technology and even integrated it into its search engine Bing. Google has officially announced “Bard,” its ChatGPT rival based on an in-house language model that is undergoing testing before being released to the public.

Chinese search engine Baidu has announced the testing of a similar tool, “Ernie Bot,” while Alibaba also confirmed working on an AI tool. Worldwide, we are witnessing rapid innovation and updates in this field, and by the time you read this blog, we might expect some more new developments.

What does it mean for the talent and workforce industry?

While the utility of a generative AI like ChatGPT remains an area to explore, we expect HR and business leaders to leverage ChatGPT across various dimensions of work and talent management. The workforce industry has evolved over the past few decades, and with the advent of machine learning and AI, we can expect to see some major transformations in the coming few years.

While ChatGPT has the potential to impact talent management, it is still not a replacement for human recruiters. Instead, it can assist them by streamlining the process and making it cost-effective and efficient by automating routine tasks, improving the candidate experience, and enhancing the recruitment process.

Some functions like job screening, content development, and job pricing will see a greater impact than other roles, as illustrated below:

Current mapping of ChatGPT and similar AI across the talent management value chain

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Where can ChatGPT replace human involvement in the near and long term?

ChatGPT has already proven its capability to solve math, write code and content, create poetry and literature, converse with other AI tools, and assist with business problems. Soon, generative AI tools have the potential to replace most non-automated tasks such as targeting prospects, writing sales pitches, drafting reports, writing basic code, developing financial models, analyzing data, assessing candidates, optimizing operations, etc. Although the list has no definite bounds, the possibility exists for a single generative AI replacing jobs across multiple domains such as marketing, sales, finance, operations, etc.

The potential impact of ChatGPT and similar AI across workforce areas

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Key examples of generative AI adoption

Here are some of the applications for these tools in the industry:

  • Content creators at leading cloud services company VMware use the AI-based content creation toolJasper to generate original content for marketing – from email to product campaigns on social media
  • Morgan Stanley is working with OpenAI’s ChatGPT to fine-tune its training content on wealth management. Financial advisors are using it to search for existing content within the firm and design tailored content for its clients
  • Codeword, a leading tech marketing agency, has already hired the world’s first AI interns as an experiment to assist them with content writing, design, animation, and marketing

On similar themes, we have seen companies leveraging AI, such as Tesla building driverless cars and McDonald’s experimenting with employee-less eateries. In a few years, AI bots could replace various roles, such as customer service executives, recruiters, content writers, and even coders.

We might expect to see a single generative AI tool functioning across multiple domains (finance, HR, marketing, customer service, operations, etc.) within an organization, reducing the need for human intervention.

Blue-collar jobs were already at risk, and the success of ChatGPT further threatens several white-collar professions as well. In the long run, ChatGPT and similar AI tools can open doors to many new opportunities for AI integration, and any prediction we make has a higher risk of falling short of reality.

What challenges are associated with ChatGPT adoption?

We have already discussed the technical challenges of ChatGPT in our earlier blogs (see links at the end of this post.) Human interaction and empathetic judgment are the two major challenges for any AI tool to penetrate the talent management space. Also, limited capabilities in languages other than English and text-driven communication style restrict the use cases of generative AI in non-English speaking regions. Ethical and legal concerns also need to be addressed as the distinction between AI-generated and human-generated data blurs.

In addition, most short-term use cases of generative AI, such as chatbots, already have an alternative available in the market. It will take time for ChatGPT to further integrate into the talent market and move from an experimental basis to organization-wide implementation. Integrating a new system also requires additional investments and training that organizations need to explore.

Impact of ChatGPT on the future workforce

Amid all the hype and speculation, one thing is for sure: AI is here to stay. As humans, we need to embrace it and learn to co-exist with it. With the rise in AI adoption, the talent dynamics also are expected to change, and certain skills/roles associated with it will soar as we enter the age of AI.

Going ahead, we can expect to see higher demand for relevant technical skills. This also creates opportunities for several related skills, such as people with specific domain knowledge to train models and personnel, review content, ensure data reliability, and integrate systems based on industry needs.

Follow our next blog in the series to learn more about the type of skills/roles that will be affected and the new roles that will emerge in demand.

Below are some illustrations of the current capabilities and limitations of ChatGPT on talent-related queries. (The screenshots were taken on February 20, 2023, from India and the responses might be different for other users.)

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For our previous blogs on this topic, see ChatGPT – Can BFSI Benefit from an Intelligent Conversation Friend in the Long Term?, ChatGPT Trends – A Bot’s Perspective on How the Promising Technology will Impact BPS and ChatGPT – A New Dawn in the Application Development Process?

If you have questions about the latest trends in the talent landscape or would like to discuss developments in this space, reach out to [email protected] or [email protected].

You can also watch our webinar, Top Emerging Technology Trends: What Sourcing Needs to Know in 2023, to learn more about how organizations can implement new technologies into processes and operations.

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